Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Lbp Am Sa

LBP AM SA grew its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,176,200 shares of the company's stock after purchasing an additional 175,000 shares during the period. LBP AM SA owned approximately 0.36% of Confluent worth $32,887,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CFLT. Champlain Investment Partners LLC lifted its stake in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company's stock worth $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Confluent by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company's stock valued at $88,180,000 after purchasing an additional 107,510 shares in the last quarter. Atreides Management LP boosted its stake in shares of Confluent by 7.3% during the 3rd quarter. Atreides Management LP now owns 2,706,910 shares of the company's stock valued at $55,167,000 after buying an additional 184,865 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Confluent by 46.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company's stock worth $51,224,000 after buying an additional 802,353 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Confluent by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company's stock worth $65,860,000 after buying an additional 71,454 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

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Confluent Stock Performance

Shares of NASDAQ CFLT traded down $0.84 during midday trading on Tuesday, reaching $26.36. 3,997,622 shares of the company traded hands, compared to its average volume of 4,289,380. The company has a market cap of $8.80 billion, a price-to-earnings ratio of -24.41 and a beta of 0.90. The stock has a 50-day moving average price of $29.60 and a 200 day moving average price of $26.86. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Confluent

In other news, insider Erica Schultz sold 150,000 shares of Confluent stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at approximately $24,286,533.12. This trade represents a 18.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $13,285,047.68. This represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,201,518 shares of company stock worth $38,533,306 over the last quarter. 13.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Guggenheim raised their price objective on shares of Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price target on Confluent from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. William Blair restated an "outperform" rating on shares of Confluent in a research note on Monday. Bank of America lifted their target price on Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on Confluent from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $35.33.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.